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FOLLOWING significant growth in the renewable energy business, 
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Industry News

Covid-19 pandemic spurs Sars' modernisation programme

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The Covid-19 pandemic's impact on the South African Revenue Service (Sars) compressed a decade-long modernisation programme into two to three years, Sars commissioner Edward Kieswetter noted on September 16. "The pandemic struck as we were starting our journey of rebuilding Sars and reigniting the modernisation programme. Because we had strategic clarity, instead of slowing down, it accelerated the transformation," he told delegates participating in a South African Association of Freight Forwarders’ conference.

SA telcos moving aggressively to add fintech offerings to mobile money base

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South Africa’s major telecommunications companies are accelerating their financial technology (fintech) strategies and betting big on Africa’s untapped digital economy potential to bolster dwindling traditional revenues in an ever-evolving digital era. Boasting huge volumes of customers with access to data, and with a risk appetite and the infrastructure and the experience to rapidly move on new technologies and services and a strong partnership and alliance approach, telecommunications firms are well positioned to advance their digital services platforms across Africa.

Boeing forecasts commercial aircraft market of more than $3-trillion over next decade

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US aerospace giant Boeing has forecast a commercial aircraft market worth $3.2-trillion over the next ten years. In concrete terms, this would amount to 19 000 aircraft. As for demand over the next 20 years, the group estimates that this would amount to more than 43 000 new aeroplanes, with a total value of $7.2-trillion. Recovery in the air transport market is currently being led by domestic flights, it reported. Regional and intercontinental flights are expected to follow, as vaccine rollouts lead to relaxations in health-based travel restrictions. Boeing expects long-range commercial air traffic to reach pre-pandemic (2019) levels by 2023 or 2024.

Sars customs modernisation depends on new skills and industry support to shape smart ecosystem

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The customs modernisation programme of the South African Revenue Service (Sars), announced on September 1, requires the upskilling of customs officials, as well as the support of and collaboration with industries, businesses and the whole of government to shape a customs and trade ecosystem that supports economic growth and social development. Sars commissioner Edward Kieswetter and Sars Customs director Beyers Theron, during separate speeches to the South African Association of Freight Forwarders summit on September 16, said one of Sars' nine strategic objectives was to enhance the skills of its officers to be more empowered as this was central to its efforts to rebuild the institution and modernise it.

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